DANGOTE REFINERY TO GET 400,000 BARRELS OF CRUDE DAILY AS NAIRA-FOR-CRUDE DEAL BEGINS.
Nigeria’s Federal Government is set to deliver up to 400,000 barrels of Nigerian crude oil daily to the Dangote refinery under its naira-for-crude agreement, resulting in 24 million barrels of Nigerian supply between October and November 2024.
According to media reports the new development follows the announcement by the Federal Government that the naira-for-crude deal has commenced.
This increase in processing capacity could have significant implications for the refinery’s operations and the local oil industry, transforming the region’s import and export markets.
As a result,the Nigerian National Petroleum Company Limited is set to begin the supply of crude oil in naira to the Dangote Petroleum Refinery this week, with three more refineries set to start the production of Premium Motor Spirit.